St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-09-02
BALTIMORE & OHIO.
Further Rumors About the Ex-
press Company and Railway

Further Rumors About the Ex-
press Company and Railway
Line.
BALTIMORE, Sept. 1.-Vice President
Spencer, in answer to inquiries on the
subject to-day, confirmed the disposal of
the plant of the Baltimore 81 Ohio Ex-
press company and of the execution of a
contract between the railroad company
and the United States Express company
for a period OF thirty years, but declined
to give any further particulars. He,
however, regarded the arrangement as
quite advantageous to the interests both
OF the railroad company and the express
company. Mr.. Spencer stated that there
was no truth whatever in the statements
as to negotiations with London bankers
for the control of the railway company,
or that the house of Rob-
ert Garrett & Sons was selling or
intending to sell its holdings. and
he knew of no such Intentions ON the
part of any other large holders. He
treated as absurd the statement that the
Pennsylvania railroad had advanced, or
was advancing any moneys to the Balti-
more d Ohio company looking to its
control, or for any other purposes. The
control of the company had not, and
would not pass into any rivalry hands;
it would continue as an independent
trunk line, with the interests of all
classes of stockholders fully and amply
cared for, working, it is hoped, in such
harmony with connecting and Compel
ing interests as would secure the best
results for all. The company is doing
large business, and has met, and was
prepared to meet, promptly all its obi
cations of every character.
AT NEW YORK.
NEW YORK, Sept. 1.-The Post says:
The general belief is that all the neces-
sary arrangements for carrying out
programme whereby the control of the
Baltimore & Ohio road will pass into
the hands of a syndicate have been COM
pleted. No formal transfer will be
made, so it is sold, but at the annual
meeting of the company, which occurs
in November, Mr.. Garrett will hand in
his resignation as president, and the
pletely reorganiZed. The telegraph
system will probably be leased at that
time to the Western Union, if not be-
fore, and the sleeping-car interests will
be disposed of to the best advantage.
President Platt, of the United States,
and the executive officers of the Adams,
American and Erie Express companies,
all deny positively that they have any
thing to do with the formation of a trust
in the handling of express business, as
has been rumored in dispatches from
Chicago.
AT PHILADELPHIA.
PHILADELPHIA, Sept. IA promi-
nent Pennsylvania railroad official made
the following statement regarding the
purchase of the Baltimore q Ohio to-
day:
There is no truth whatever in the report
and you can deny it emphatically. l know
nothing whatever about it except what read
in the papers to-day. The Pennsylvania
railroad has not only not negotiated for the
purchase of the Baltimore d Ohio, but no
oyertures looking to purchase have been
madelby us. We have no interest whatever
in any syndicate of the character named.
A member of the firm of Drexel 81
company said to-day:
can give you no information OH the sub
ject at all. This much you can say: We are
not buying railroads because we are not in
that business OF course, there may be some
kind of a deal going on, and we may have
some interestin the syndicate referred to, but
we can give you no definite information
about it at present.